The Village Assessors shall have the power and be
charged with the duty to carry out the purpose and intent of Article
4-A of the Commerce Law,[1] § 485 of the Real Property Tax Law,[2] and the other applicable laws of the State of New York,
to grant to business facility owners or operators exemption from taxes
and special ad valorem levies to the extent provided therein.
The Village Assessors shall determine the assessed
value of the exemption pursuant to such state laws and shall grant
as an exemption 100% thereof, for a maximum of 10 years for each eligible
business facility.